Property News · July 1, 2019

Hong Kong’s new business hub at Kai Tak may fall years late as developers turn skittish


The bold vision to transform the former Kai Tak airport site into a second major business hub in Kowloon East may have to be put on hold for a while, as confidence in the project has been dealt a blow after a local developer judged it too risky to proceed with the purchase of a HK$11.1 billion (US$1.42 billion) site, according to industry experts.The government may opt to defer the sale of some commercial sites at the city’s former airport by up to two years until sentiment improves, a delay…

Source : South China Morning Post
Read more…Hong Kong’s new business hub at Kai Tak may fall years late as developers turn skittish